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Facebook Acquired a Startup to Build a Live Shopping Feature

  • Packagd was founded by former Kleiner Perkins partner
  • Live shopping is growing in popularity, especially in China

Facebook Inc. acquired a small video-shopping startup earlier this year to help build a live shopping feature inside the company’s Marketplace product, according to a person familiar with the plans.

The social media company bought Packagd, a five-person company founded by Eric Feng, a former partner with Kleiner Perkins Caufield & Byers, and most of the startup’s team joined Facebook in September. Packagd was building a shopping product for YouTube videos. “Think of it as a re-imagination of QVC or a home shopping network,” Feng said in a 2017 interview with Bloomberg Television’s Emily Chang.